Published on 15 Mar 2024 on GuruFocus.com via Yahoo Finance
Frequency Electronics Inc Reports Robust Revenue Growth in Q3 FY2024
Revenue Growth: Q3 revenues increased to $13.7 million, up from $10.6 million in Q3 FY2023.Net Income: Q3 net income was $0.1 million, a turnaround from a net loss of $0.3 million in the same period last year.Operating Income: Nine-month operating income improved to $2.5 million, recovering from a $5.1 million loss in the prior year.Backlog: Record high backlog of $67 million, indicating strong future revenue potential.Gross Margin: Company aims to improve gross margins despite a decrease in the current quarter.Free Cash Flow: Anticipated significant free cash flow generation in Q4.Stockholders Equity: Increased to $36.7 million from $32.9 million at the end of the last fiscal year.
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